North Side apartment complex sold to Austin-based firm

An Austin-based developer has purchased a North Side apartment complex and plans to update the façade and interior within the next six months.

Heiser Development Corporation, which has a local office, purchased the Jackson Square apartments in July. Hendricks & Partners negotiated the transaction for the seller, TriTex Real Estate Advisors Inc., an Atlanta-based firm. The lender was Prosperity Bank of Houston.

The 134-unit property was built in the 1970s and features classic French provincial architecture, according to a news release from Bradfield Heiser, vice president for Heiser.

The company plans to re-brand and reposition the property with several projects such as updating the roof, fencing and balconies. The property was purchased as a foreclosure but is running at about 76 percent occupancy.